Private Asset Management Inc. cut its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 36.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,275 shares of the credit services provider’s stock after selling 2,975 shares during the quarter. Private Asset Management Inc.’s holdings in Paypal were worth $388,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Fundsmith LLP boosted its stake in shares of Paypal by 6.8% during the second quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock valued at $754,131,000 after purchasing an additional 889,976 shares during the period. AXA boosted its stake in shares of Paypal by 68.4% during the third quarter. AXA now owns 382,248 shares of the credit services provider’s stock valued at $24,475,000 after purchasing an additional 155,268 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Paypal by 0.7% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 188,272 shares of the credit services provider’s stock valued at $12,055,000 after purchasing an additional 1,400 shares during the period. Rhumbline Advisers boosted its stake in shares of Paypal by 1.2% during the third quarter. Rhumbline Advisers now owns 1,871,868 shares of the credit services provider’s stock valued at $119,856,000 after purchasing an additional 21,337 shares during the period. Finally, Wealthfront Inc. boosted its stake in shares of Paypal by 19.2% during the second quarter. Wealthfront Inc. now owns 42,458 shares of the credit services provider’s stock valued at $2,279,000 after purchasing an additional 6,829 shares during the period. 80.73% of the stock is owned by hedge funds and other institutional investors.
Shares of Paypal Holdings Inc (PYPL) traded up $0.79 during midday trading on Friday, reaching $80.54. The company had a trading volume of 6,865,875 shares, compared to its average volume of 8,297,687. The stock has a market capitalization of $96,800.00 and a price-to-earnings ratio of 62.92. Paypal Holdings Inc has a 52-week low of $39.02 and a 52-week high of $80.77.
Paypal (NASDAQ:PYPL) last issued its earnings results on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. Paypal had a return on equity of 11.33% and a net margin of 12.69%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Paypal’s revenue for the quarter was up 21.4% on a year-over-year basis. equities analysts anticipate that Paypal Holdings Inc will post 1.37 EPS for the current year.
A number of analysts have recently issued reports on the stock. BidaskClub raised shares of Paypal from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on Paypal from $61.00 to $70.00 and gave the company a “hold” rating in a report on Sunday, October 22nd. Zacks Investment Research upgraded Paypal from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Thursday, October 26th. Mizuho restated a “hold” rating and issued a $50.00 price objective on shares of Paypal in a report on Sunday, October 15th. Finally, Stephens lifted their price objective on Paypal from $65.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, October 17th. Ten investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. Paypal has a consensus rating of “Buy” and a consensus price target of $76.05.
In related news, Director Rodney C. Adkins acquired 6,750 shares of the stock in a transaction on Friday, December 8th. The shares were acquired at an average price of $74.04 per share, for a total transaction of $499,770.00. Following the transaction, the director now owns 10,149 shares in the company, valued at approximately $751,431.96. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.00% of the company’s stock.
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Paypal Company Profile
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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